US Treasury Secretary Geithner to visit China for talks

BBC News

US Treasury Secretary Timothy Geithner is to visit China at a time of tension between the two countries over the value of China’s currency, the yuan.

Mr Geithner is due to discuss bilateral economic issues with the Vice Premier, Wang Qishan, in the port of Qingdao.

US officials have said China is keeping the value of the yuan artificially low to make its exports more competitive. Beijing has rejected the allegation.

On Saturday, G20 finance ministers said they would refrain from such tactics.

At a meeting in the South Korean city of Gyeongju, they also agreed to changes at the International Monetary Fund (IMF), giving major developing countries more of a say.

BBC News

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